Lantronix postpones fourth quarter and fiscal year 2022 | Panda Anku

IRVINE, Calif., August 18, 2022 (GLOBE NEWSWIRE) — Lantronix, Inc. (the “Company”) (NASDAQ: LTRX), a global provider of secure, turnkey Internet of Things (IoT) and remote environment management solutions (REM), which provides software as a service (SaaS), connectivity services, engineering services and intelligent hardware, today announced that it has reported financial results for the fourth quarter of fiscal 2022 and for the full fiscal year ended June 30, 2022 after closing The market will be published on Thursday, August 25, 2022.

The release of the Company’s fourth quarter 2022 and full year financial results ended June 30, 2022, as well as the conference call originally scheduled for August 18, 2022, are postponed to allow the Company’s independent registered public accounting firm additional time to complete their audit of the financial statements 2022.

As previously announced, the Company expects record sales of over $35 million for the fourth fiscal quarter ended June 30, 2022. For full fiscal year 2023, Lantronix is ​​targeting revenue of $149 million to $162 million, which represents about 15% 25% growth.

Management will host a conference call and audio webcast for investors on August 25, 2022 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Investors should visit the Investor Relations section of the Company’s website for dial-in details and a simultaneous webcast of the event.

About Lantronix

Lantronix Inc. is a global provider of secure, turnkey Internet of Things (IoT) and Remote Environment Management (REM) solutions, offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware.

Lantronix enables its customers to reduce time to market and increase uptime and efficiency by delivering reliable, secure, and connected Intelligent Edge IoT and Remote Management Gateway solutions.

Lantronix products and services simplify the creation, development, deployment and management of IoT and IT projects in robotics, automotive, wearables, video conferencing, industrial, medical, logistics, smart cities, security, retail, branch offices, server rooms and Data centers significantly applications. Visit the Lantronix website for more information.

Learn more on the Lantronix Blog, which includes industry discussions and updates. Follow Lantronix on Twitter, check out our YouTube video library, or connect with us on LinkedIn.

Preliminary estimated quarterly results

Lantronix’s announced preliminary estimated earnings for the fourth fiscal quarter ended June 30, 2022 are preliminary and are subject to change. Lantronix has not completed its usual closing procedures for the fourth fiscal quarter ended June 30, 2022 and there can be no assurance that the final results for the quarter will not differ from the preliminary estimated results contained herein, including as a result of the annual closing procedures and adjustments. In addition, these preliminary estimated earnings should not be considered a substitute for complete interim reports or audited financial statements prepared in accordance with GAAP and audited by Lantronix’ auditors.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding our revenue expectations for the fourth quarter of fiscal 2022 and full fiscal 2023. These forward-looking statements are intended to satisfy the protections from liability under the Private Securities Litigation Reform Act of 1995. We have based our forward-looking statements on our current expectations and projections about trends affecting our business and industry and other future events. Although we do not make any forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Forward-looking statements involve significant risks and uncertainties that could cause our results or experience or future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied by any forward-looking statements contained in this press release. Other factors that could have a material adverse effect on our operations and future prospects, or cause actual results to differ materially from our expectations, include, but are not limited to: the impact of the COVID-19 pandemic, including the emergence of new, more contagious and/or vaccine-resistant viral strains and the impact of immunization efforts, including the effectiveness and public acceptability of immunizations, on our business, our employees, supply and distribution chains and the global economy; the impact on our business of adverse or deteriorating regional and global economic conditions or market instability, including the impact on our customers’ purchasing decisions; our ability to successfully convert our backlog and current demand; our ability to mitigate disruptions in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic, the Ukraine-Russia war or other causes; our ability to successfully execute our acquisition strategy or integrate acquired businesses; uncertainty as to the future profitability of acquired businesses and delays in realizing or not realizing proceeds from acquisition transactions; acquisition, management and integration of new operations, businesses or assets and the consequent distraction of management attention or other associated costs or difficulties; our ability to continue to generate revenue from products sold in mature markets; our ability to develop, market and sell new products; our ability to be successful with our new software offerings; fluctuations in our revenue due to the project-based timing of orders from certain customers; unpredictable timing of our revenue due to the long sales cycle for our products and services and potential delays in the completion of projects by customers; our ability to accurately predict future demand for our products; delays in qualifying revisions of existing products; limitations or delays in the supply of certain materials or components or quality control issues; difficulties related to the supply, quality or cost of our products from our contract manufacturers or suppliers; risks related to outsourcing of manufacturing and international operations; difficulties related to our distributors or resellers; intense competition in our industry and resultant downward price pressure; inventory increases and inventory obsolescence; undiscovered software or hardware errors or defects in our products; cyber security risks; our ability to obtain relevant industry certifications or approvals from government regulators; changes in applicable US and foreign government laws, regulations and tariffs; our ability to protect patents and other property rights and avoid infringing on the property rights of others; the level of our indebtedness, our ability to service our debt and the limitations in our debt covenants; our ability to attract and retain qualified management; and any additional factors included in our report on Form 10-K for the fiscal year ended June 30, 2021 filed with the Securities and Exchange Commission (the “SEC”) on August 27, 2021, including section headed “Risk Factors” in Item 1A of Part I of this report; in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2022 filed with the SEC on May 5, 2022, including the “Risk Factors” section in Item 1A of Part II of this report; and in our other public filings with the SEC. In addition, actual results may differ due to additional risks and uncertainties that are not currently known to us or that we do not currently consider material to our business. For these reasons, investors are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements we make speak only as of the date they are made. We expressly disclaim any intention or obligation to update any forward-looking statements after the date of this release to conform these statements to actual results or any changes in our opinions or expectations, except as required by applicable law or the rules of Nasdaq Stock Market LLC required. If we update or revise any forward-looking statements, investors should not assume that we will make any additional updates or revisions.

Lantronix media contact:
Gail Kathryn Miller
Corporate Marketing &
communications manager
media@lantronix.com
949-453-7158

Contact Lantronix Analyst and Investor:
Jeremy Whitaker
CFO
investors@lantronix.com
949-450-7241

Lantronix Sales:
sales@lantronix.com
Americas +1 (800) 422-7055 (US and Canada) or +1 949-453-3990
Europe, Middle East and Africa +31 (0)76 52 36 744
Asia Pacific + 852 3955-0218
China +86 21-6237-8868
Japan +81 (0) 50-1354-6201
India +91 994-551-2488

© 2022 Lantronix, Inc. All rights reserved. Lantronix is ​​a registered trademark and SLB and SLC are trademarks of Lantronix Inc. Other trademarks and trade names are those of their respective owners.

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